Reverse charge mechanism is the case in which the receiver of goods is obligated to pay GST rather than supplier. Reverse charge mechanism (RCM)
Dear Sir We had paid an amount of Rs 5000 as RCM transporter and showed the same in return of December 2020 Now during the return filing for the month of January 2021 when i take the ITC of Rs 5000 it shows RED Please advise With best regards Vijay
Taxpayers must fill in their monthly or quarterly GSTR 1 form in January to avoid penalty charges. In this regard, you can read our guide on everything you need to know about form GSTR 1. Since 31st December is the due date to file GSTR-9 for a financial year, taxpayers who haven...
Bhavika Kothari (CA) (1258 Points) Replied 19 July 2021 Reverse Charge Mechanism (RCM) on Facebook Advertisement Service is applicable since inception of GSTLeave a reply Your are not logged in . Please login to post replies Click here to Login / Register ...
Metal Scrap Reverse Charge Mechanism (RCM) introduced for metal scrap supplies by unregistered persons; 2% TDS applied on B2B metal scrap supplies by registered persons. RMPU Air Conditioning Machines RMPU air conditioning machines for railways classified under HSN 8415, attracting a 28% GST rate....
7. Which Educational services attract GST on Reverse Charge? There are few examples of Educational services that attract GST under the reverse charge mechanism (RCM). Educational institutions are liable to pay GST on RCM for these goods or services – Sponsorship revenues from non-corporate entiti...